Saudi Gazette report

RIYADH — The Federation of Saudi Chambers organized the third edition of the Saudi-Emirati Economic Forum in Riyadh, featuring participation from Minister of Economy Faisal Al-Ibrahim and Minister of Industry Bandar Al-Khorayef.

Al-Ibrahim reported that the volume of direct Emirati investments in Saudi Arabia amounts to SR111 billion. In his speech, he noted that trade exchange between the two nations increased by 25%, reaching SR113 billion.

Minister of Industry Bandar Al-Khorayef emphasized that Saudi exports to the UAE grew at an annual rate exceeding 9% from 2018 to 2023, totaling approximately SR31 billion in 2024.

He expressed aspirations for deeper integration in the industrial and mining sectors.

Al-Khorayef stated, “We look forward to working together to launch joint initiatives that support entrepreneurship, facilitate access to financing and training, and encourage the exchange of expertise.” He highlighted Saudi Arabia’s commitment to active participation in priority sectors, including industry and mining.

The forum welcomed an Emirati trade delegation of over 100 major companies, led by UAE Minister of Economy Abdullah Al Marri, alongside numerous officials and investors from both countries.

This forum aims to strengthen the partnership and economic integration between Saudi Arabia and the UAE, extending the outcomes of the joint working mechanism established under the “Resolve Strategy.” This initiative seeks to provide a model for integration and cooperation through the implementation of strategic projects.

The first forum took place in Abu Dhabi in 2018, followed by the second in Riyadh in 2019.